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Innovatus Capital Partners pays $64M for 2 Nashville, Tenn., office buildings

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Innovatus Capital Partners pays $64M for 2 Nashville, Tenn., office buildings

Innovatus Capital Partners LLC acquired the 340,642-square-foot Highland Ridge I and II office buildings in Nashville, Tenn., from Smith/Hallemann Partners for $63.6 million, Commercial Property Executive reported, citing public records.

Highland Ridge I covers 169,209 square feet at 565 Marriot Drive, while Highland Ridge II spans 171,433 square feet at 555 Marriot Drive.

Allstate, Allied Universal, The Hanover Insurance, Collabera and iostudio are among the tenants at the two eight-story, class B office properties, which have a weighted vacancy rate of 2.7%, the publication added, citing data from Yardi Matrix.

Goldman Sachs Asset Management sold the assets to Smith/Hallemann Partners in February 2017 for $24 million, after refurbishing the portfolio in 2014, the Jan. 16 report added.